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president obama's former campaign manager david plouffe and steve schmidt talk about the 2012 election. both mr. playoff and mr. schmidt attended the university of delaware. >> welcome back to the national agenda program. i'm director for the center of political communication. this is the final program of the 2012 presidential election season. i'm very very pleased that all of you are here tonight and i know that's a tribute to our two guest speakers this evening. two years ago in the wake of the sha lacking president obama took in the midterm congressional elections, the architect of the president's 2008 victory david plouffe stood on this stage and predicted the electorate voting in 2012 would be more diverse and younger than it was just two years earlier. he talked then about the growing latino electorate and he predicted that the obama campaign in 2012 would have to take advantage of those demographic opportunities. plouffe also predicted on this stage that the american people in 2012 would have had enough of republicans who were like glenn beck, sara palin and rush limbaugh. we are just
also at fault. >> mr. samaras has become an inseparable part of ms. merkel's election campaign. she cannot admit to the german people in the run-up to elections that she made a mistake, that she is responsible for the coming recession and that the greek debts must be cut. >> the german finance minister continues to reject that option. he says he was confident that an agreement would be reached when eurozone ministers meet next week. >> chancellor angela merkel said there was no easy solution to the problems in athens, but she said she was confident that eurozone finance ministers would release that next round of bailout money next week. >> the leader of the opposition, however, accused merkel of failing to reveal the true cost of the measures to help greece and said this made it impossible to pass germany's own budget. our political correspondent has been following the budget debate for us. the chancellor faced some tough criticism on her handling of the year of crisis. what more can you tell us? >> indeed, one of the main critical voices was that of the social democratic leader, an
stayed with them as a colleague during the civil war and after grant was elected president initially appointed washburn secretary of state and washburn became very ill, after ten days he submitted his resignation to president grant show grant regretfully had his resignation and he regained his health which was always very fragile and grant the then offered him the position as minister of france, ambassador of france. >> michael hill on washburn, minister to france in the 1870 franco prussian war, and the only power of the state providing political and humanitarian support. q&a sunday night at 8:00 on c-span. >> now a discussion on entrepreneurship, immigration reform and innovation. economist douglas holtz-eakin and aol co-founder steve case, at the aspen institute for 30 minutes. >> next we have a panel on america and where it is going, steve clemens -- steve clemons is the empress area of washington ideas. >> hey, folks. everybody is running to the thompson reuters counter. thank you for joining us. great to be with you. i am steve -- steve clemons, editor of large of the atlantic,
weeks after the longest, most expensive and exhausting election in u.s. history eyes are turning to 2016 as speculation begins over the next batch of candidates lining up to run for president. >> who could that be? i know it's going to be a surprise. >> i know it is too. we're moving past these dynasties. >> exactly. >> of ruled politics for decades. republican up and comer jeb bush jr. says he would love to see his dad run for president, and rand paul says he's going to follow in his pop's footsteps too and hillary is going to run too. do you have to be related to somebody who has been president of the united states or run for president of the united states to actually do that yourself? >> i think that's what makes the names. here's jeb jr. >> your dad going to run for president? >> i don't know. no comment. i certainly hope so. >> which is it, i don't know or no comment? >> i think it's the i hope so. >> you said, i don't know, no comment, and i hope so, which are all kind of contradictory. >> give me the full loaf of bread right there. >> word is out of florida jeb is lining up for 20
before when the early voting numbers look good for us. >> you thought it long before the election. i know that. [laughter] >> but i was pretty sure -- >> how long? could he have one after the first debate or where the forces in motion? >> sure, absolutely he could have one. -- won. it was competitive the entire way. i think governor romney could have one up until the end. i always believe in the fundamental truth, we were building the best grass roots campaign in modern political history. we had the best candidate and the best message. >> in a way, the story of this election is the degree to which replicated the 2008 results. many people thought that 2008 was a once-in-a-lifetime result. you came very close to replicating it. i think the most fascinating statistic is african-americans in ohio, 11% of the electorate, 15% this time. you found 200,000 more african- american voters who turned out for you. mitt romney lost the state by 103,000. that was the election, right there. finding those extra african american voters. >> let me back up. we won this election because of barack obama. peopl
to treat the complete control over the judicial system until a new parliament is elected. opposition politicians are calling for mass protests. they include a nobel peace laureate who says morsi has put egypt back on the path to dictatorship. >> this is a coup against the revolutionary legitimacy that brought him to power. these actions represent a takeover of the country's authorities and make him an even bigger dictator then mubarak. >> but morsi rejects the accusations and says he is working in the interests of all egyptians. he says he does not fear the opposition but that he needs to be strong to insure stability for all of the country. morsi says he wants the best for his people, but opposition is building and threatens the stability he wants to promote. >> for the latest, let's cross over to cairo and our correspondent there. just how serious is this unrest? could the egyptian army be called out now in force to keep order? >> there are reports now of morsi discussing the situation with the ministers of defense and the interior. the headquarters of the party of the muslim broth
for tuesday. >> we demand the president of days the people who voted for him. they elected him to work on their behalf, not to do as he pleases. >> the political unrest is growing in scope. the judges sidelined are organizing their run protests. turbulence on the cairo stock exchange in the wake of sunday's major sell-off. traders and market analysts fear a lengthy political crisis. he has since tried to assure his seizure of powers will be temporary. he's has confidence in the search for a compromise. they're asking him to use restraint. >> democracy means the rule of law and the division of powers. therefore, i appeal to the egyptian leadership to seek a compromise. >> that is what the demonstrators in cairo are looking for. they vow to continue until he meets their demands. >> for the latest on the story, we are joined now from cairo, and he is following the events there. the president is trying to diffuse the situation and he is negotiating with senior judges. is there any sign of a compromise? >> not yet. the country is really waiting to see if he is going to give in and see if th
of a debt write-down have been delayed until after next year's german elections. >> the deal would be put to vote on thursday or friday. >> it is not an easy sell for the defense of the idea of letting greece buy back its bonds at below market value. >> it is important to be fair and say that other eurozone countries should not be profitable. greece needs this. >> german chancellor angela merkel and her finance minister can count on the majority in parliament to support the plan, even though many lawmakers still had questions when they were being briefed. opposition parties have not yet laid down their position, but in the past, they have signaled that they will support continuing aid for greece, but the social democrats, germany's largest opposition party, wants more information. >> it is too early to determine what impact tonight's decision will have on the german budget. we have also not yet calculated what the consequences would be for the future of greek debt. >> as far as the opposition is concerned, a hair cut for greece is not off the table yet. if anything, it is being postponed
. >> stephanie: good morning. >> caller: i would just like to say as opposed to past elections, wall street was all in with romney. they didn't split their conviction as usual. >> stephanie: right. >> caller: yeah, so instead of fighting them for a tax increase on the top 2% that america supports, let's gently go over that fiscal slope and then. >> stephanie: it's more like a fiscal bunny hill. i think with a good flying sauce as her weeding fine and go right into january. >> caller: fuzzy too right? >> stephanie: yeah. >> caller: gently go over to face asking slope and give 98% of americans a tax decrease and everybody will get what the american people wanted. >> stephanie: yeah within i have to say we're going to have a big discussion about this this morning. there's a lot of interesting different sides you're with patrick murray. senator murray is saying it's not a cliff it's a slope. he's saying it can be fixed fairly quickly in january. >> what we don't want is extending the bush tax cuts again, because that's what put us into this situation in the first place. >> stephanie: eric canto
of the issues about regulation and so now that we have the election over, we have to focus on passing the sites. we take that step and we focus on them creating these new industries, i am confident we will remain the most logical relationship. other nations was are racing or were and there is a reason to be concerned. i look at it may be optimistically by saying the losses have fall. >> michael has been an optimist and he's saying we have a chance here. can i invite some pessimism >> i am fundamentally optimistic. [laughter] >> unbelievable. a budget guy. if you think about the structure of the budget which reflects the value of evidence in the political system, we have huge programs which are basically legacy programs serving all americans and those programs are crushing the discretionary accounts, where we fund national-security, education, the core investments. this allows the path to crush of the future. it is against what they talked about. we have to agree that innovation will solve health care, educational, energy. look at what fracking has done. we're not doing any of the is thing is. >
. he was first elected back in 19 0 and is preparing to enter his 17th term when the 13th congress convenes next year he currently serbs as chairman of the science, space and technology committee. he is the longest serving member of the committee and the first member to serve as a ranking member as both a republican and a democrat. now everybody know what is a comedian that ralph is and i want to share a funny story with you about him. at his birthday party in may of 2011, i was asked to say a few words about him. so i talked for a few minutes about him and about what it was like to serve with him and i ended by saying that i hoped to wrap up my time in congress in just three to four terms and would never aspire to serve as long as he is. to which ralph dryly replied, well, bill, we're going to miss you. he adds levity to every situation. mr. speaker, it's an han nor to work alongside ralph. i look forward to serving with him in the future and to addressing the many pressing needs of the american people. thank you and i yield back. the speaker pro tempore: mr. speaker, i yield two
mention and that election the next couple of weeks is playing into these events? do people on the ground see this -- some level of this as political posturing? >> well, absolutely. there were many, many people during the campaign who felt that perhaps-- and certainly on the flip side, on the other side palestinians and in fact palestinian president mahmoud abbas accused israel of creating this campaign or going forward with the campaign to try and sabotage the u.n. bid -- the palestinian u.n. bid and also as a ploy for election -- for garnering votes for upcoming elections. for the incumbent government. the fact of the matter is, when i spoke with people on the ground today in the south, these are the constituents that would primarily vote for prime minister netanyahu and right now they're not very happy with him and many, many people said they're withdrawing their vote in the coming election, that they will not be voting for his likud party. they're unhappy with the fact that there was a pullback from a full-scale invasion. people living in the south who, again, have been through this s
♪ in the senate election he'll do more for you and me ♪ look at kennedy's history ♪ you'll see it's no mystery ♪ he's your kind of man so do all that you can ♪ and vote for kennedy ♪ >> we added the pictures and photographs ourselves. but that's a part of the c.d.'s that you get with the book. >> it is. >> how come that's in that? >> well, it's audio and it's great. it's evocative of a time really before tv. kennedy came out of politics before television was as important as it became, and then he rode the importance of tv very effectively. but that's from an earlier time, 1952. tv existed, but not many americans had it. music was really important to politics, both on radio and then even at events, where people would sing. and so like any politician, he need add theme song, and in 1952 he was running for senate for the first time and had a very well-organized campaign and had to have a song. i guess the short answer to your question is i listen to a lot of audio. the tapes themselves coming out of the white house. but then there were a lost audiotapes of kennedy speaking into a dictaphone
elected president, morsey was. and now he, they believe, has become no different than mubarak. >> yesterday, the former assistant secretary of defense spoke out on what's happening there. >> president obama is really stuck now. that is is, he wants to court morsey but now that morsey is acting extra illegally, he he is almost forcing president obama to have to rebuke him publicly. and the question is whether president obama will do. so. >> >> we probably should have been quicker to reserve the praise. susan rice was the first one who spoke out immediately praising mohammed morsey. to charles krauthammer's point, it's the money that we hold power in all of this over a billion dollars a year goes to egypt. maybe that's something that the united states holds on to. s and congressman that want to defund egypt entirely. that money probably ought to be held back. >> they're the people once again making their demands. can you see from the videos here. >> looks like the arab spring, right? >> remember what happened in to your knowledge and spilled into egypt. this all started here an
. they are blaming obamacare on this, but this was before the election the price of health care was going up. across the board, we are not dealing with problems at hand. both sides of the aisle, those that don't want to give an answer to this before we go over the fiscal cliff, they're not responding to the will of the people. they will be voted out. there's no doubt. if we have some very lovely and caring republicans that are very conservative and we love them, but we will vote them out if they don't fix this. we are holding them responsible as we are holding the democrats. host: thanks for the call. we will continue discussing the fiscal cliff and taking your calls. we want to point out some other news going on in the world. here's the front page of the boston globe this morning -- clinton was dispatched by president obama to israel and is meeting today with egyptian officials and palestinian officials as well. the headline from the tribune -- late tuesday night clinton met with benjamin netanyahu in jerusalem and plans to go to the west bank on wednesday. clinton is preparing to step down early n
has an election coming up in two months. we don't know what the outcome of that will be, and the arab spring has created a new dynamic in the region. not before experience which hopefully can behar necessaried of moving forward in the peace process and also could provide some obstacles. the most complicated situation imaginable, anderson, and -- i think even though we vaeb been able to do it in the past. we have to keep doing it important for the people there, the region, and the interest of the united states. >> egypt's role is beyond just a guarantor and negotiating partner, if -- if israel's confidence in their own security is to be assured, the flow of weapons into gaza has to stop, and egypt will play a critical role in that, and it seems like a large number of rockets, the fadra-5, fadra-3, being smuggled in tunnels through egypt. >> that's right. and that's not new, anderson. the nearly three years i was there, that was a constant subject of discussion c controver controversy. not easy for egypt. a vast territory, much of it desert. not very well policed, not very well governed
elected from 1964 to 2008 comes from a state of the sun belt. lyndon johnson, nixon from california, gerald ford was never elected so he doesn't count. jimmy carter, ronald reagan from california, the first george bush from texas, bill clinton from arkansas and the second bush from texas since 2008 is a watershed election. there were critical of the politics that the flood that came out of the sun belt. they tended to be oriented around issues of strong national defense of an opposition to the union and the defense of the free enterprise politics. and also it's in the sun belt in the south and the southwest that we see the rise by the 1970's to talk about is the religious right's involved in the political process in the new and important ways. so he was at the forefront of all of those issues and his own politics national defence, a staunch anti-communist that set an important goal in the right wing anticommunist politics in the 1960's one of the things that led the party is in 1964. even the early in his career he was a staunch advocate of the unions in south carolina back in the 3
firefighters were hurt when a ceiling collapsed at a san jose apartment come election last night. one suffered a broken neck and concussion. the 16 year veteran is in the hospital in stable condition. two of the units in the building were destroyed. the cause is an accident. >>> a rollover crash in san francisco's richmond district sent two people to the hospital. it flipped at 12th and geary this morning. >>> work on the central subway project near san francisco's busiest tourist and shopping areas such as union square tailing a holiday hiatus. no construction on the $1.6 billion project today. we're showing you previous footage of it. no work christmas and new year's day either. crowds will be able to better navigate the congested areas. the central subway expected to open in 2019. >>> a lot of people hoping to hit those stores early today. and i'm sure it's going to be very busy for the rest of the holiday season. i can imagine. >> the weather couldn't be better. >> so many folks wanted to get into san francisco. this is the food of the bay bridge on the oakland side. paying cash? you will
meetings after the election of 1960, i think they had each come away quite impressed by the other, that kennedy had been describing eisenhower as kind of slow and doddering and not alert to the new realities of the 1960's. he met an extremely forceful and intelligent president of the united states in dwight eisenhower. i think likewise eisenhower was dismissive of a wealthy politician, a much younger man, a senator whom he had not condescended to meet as president. and he also came away as someone who was extremely well versed. so they began to like each other more. and especially during this crisis i think they had a sense of how lonely it is to occupy that office and how you're getting all kinds of advice, you're getting good advice, you're getting a lot of faulty advice, which kennedy was, including from his joint chiefs. eisenhower knew all about faulty military advice, and he was able to speak with his supreme authority about the dangers as well as the advantages of military advice. so he was a very useful ally to president kennedy. >> were you alive during the cuban missile
to get reelected and it's not only the german elections that are around the next corner. everybody has to keep facing their own taxpayers. so i think they'll keep doing it with a combination rather than taking all the bitter medicine. either there is a default or the countries that have given the money have to write-off their debt. on one side or the other, it has to go because obviously greece can't pay back, at least not to the extent that they would have to pay back. they might limp through some measures. there was also talk about an interest rate moratorium for up to ten years. a lowering of interest rates. of course that way you can ease the burden a bit, but ultimately there will have to be a public sector haircut of some sort and a substantial one other than that you can't get any relief from the debt front. >> you're also still in brussels because we have budget talk. let's remind ourselves what david cameron is saying about his opposition to increasing those budgets. >> clearly at a time when we're making difficult decisions at home, it is quite wrong for there to be proposals
. to me, the real danger is if the romney gets elected, they might actually do what they say they might do. >> that is remarkable feature of the political environment pitcher best hope is one of the candidates is that line carries teeth. >> we sit now in what feels like prolonged stagnation. joe, you've written a book on inequality. this could not be a positive development for the distribution proceeds to have the called the reserve army of the unemployed driving wages down, weakening the bargaining power. >> inequality has become a serious problem in the united states. it is interesting while polls are arguing in a good a long time, it gotten so serious that even economists realize it's a serious problem. when they say serious problem coming got to believe it. not our colleagues. but the magazine's economists. >> it's my job to take them on. you guys take on the magazine. one of the reasons that it weakens the economy, you know, paul emphasized the problem right now is lots of demand, lack of total demand that means people are not buying as many goods in the economy and capacity to produc
. the problem is that time is marching on. we've had the election, we've had thanksgiving. the excuses are running out. the lame-duck session is only so long. that's probably why the markets are getting nervous. although you may get a deal done in q-1 rather than in q-4, the fact that it actually hits from january 1st is going to keep business very cautious, very defensive and that's going to worry the equity market. >> it's interesting because it also comes against the landscape where we've seen chinese equities underperform, they reminded us very few of its member countries have great growth prospects going forward. that's probably wise. people are saying why is it that across the globe the u.s. fiscal cliff is such an issue. well, it's because sources of growth at this point are few and far between. >> that is the problem. where is growth going to come from. the one place that looked set for a reasonable 2013 was the u.s. economy. europe flat, china slower probably than this year. but a reasonable set of growth. if you put a 3.5%, 4% of gdp drag on that economy which was only growin
communities, which turned out in record numbers voted for and we made the difference in this election despite the fact that some states and a lot of people tried everything in the book to keep us from voting. so we do have some work ahead of us and i want to highlight a few things we can do. first of the debate over the fiscal class i'm a to ensure working families or protect it, which means that eviscerated the programs that help support working families including workforce investment and important training programs. we need to stress that this is not just an issue for our communities, before the country country. since african-americans, asian americans and latinos make up one third of the u.s. workforce today, a figure which will skyrocket in years to come. second, investing in the future of children. african-american and latino kids are the workforce of the future to the investments we make now will pay out dividends when i really need to in the decades to come as the baby boomers start to retire. they key is better education and especially important issues giving the communities of color
up above 13,000 barely on the dow. europe taking stock of spanish elections over the weekend waiting to see if they can agree on the bailout for greece. we start with black friday shopping weekend. numbers look out as we kick off cyber-monday. which retailers crushed it and which ones were crushed? >>> if you were keeping track, the dow added 421 points last week and bulls argue it could add even more if european leaders settle this dispute over greek aid. we'll discuss the potential impact as they meet in brussels right now. >> a big day for analyst upgrades. research in motion, facebook, yahoo! we'll go over those and see why citi needs three analysts to initiate coverage of apple. we'll begin with retail sales picture from this past weekend. 139 million consumers shopped during black friday weekend. that's up from 132 million last year. total spending up to 59.1 billion to 54.4 a year ago. average holiday shopper spending $434 over the weekend. sales on black friday fell 1.8% from the same day a year ago setting the stage for today known as cyber-monday. american shoppers will spe
and the shareholders who elect these individuals allow companies to move assets to the highest form? john malone constantly spins off things shuffling paper. looking to not only grow intrinsic value, but allowing it to surface. if you just bought a basket of securities that dr. malone had over the years, you'd have compounded assets at about a 15% the last 20 to 30 years. buffett does something else, buys and holds. irene rosenfeld, i said she's going to buy cadbury, she took it, put it into a package, spun off kraft. mondelez is a fantastic asset. another example, hillshire, sarah lee, we talked about that spinning off. look at the pieces. what are the elements that are worth? hillshire is a company 120 million shares, the stock's around $25, $3 billion market cap, basically the company sells protein for breakfast, jimmy dean sausages, the sausage category, how big is it? >> might be a little fat -- >> lunch meat. joe -- >> well, it's sausage. i want it. i eat it, i want it. i'm telling you it's not all protein. this is good. >> hot dogs, joe. >> just sort of in a trance. it's sort of a relief,
for the presidency in 2008 if he had lost the senate election, not if he had won it. that is the level of national of security we are talking about. >> the professor profiles historic and modern leaders to show the lessons that can be learned from those who have had the greatest impact on their time. he talks on book tv, sunday at 9:00 p.m. and midnight eastern, part of a book tv's holiday >> actor and former california governor arnold schwarzenegger joins a group of executives for a discussion on hollywood impact on culture. this marked the launch of the university of southern california's new schwarzenegger institute. the discussion was moderated by ben smith. from los angeles, this is about an hour and 15 minutes. [applause] >> thank you for turning up for this. it is an honor to be here. anyone who has been uncovering policy in new york kind of feels entertainment industry has this enormous power in politics and public policy, and also as a dark matter out there. we do not fully understand how it is affecting and changing what happens on the east coast. we have a remarkable panel of longtime l
president obama was re-elected. i don't think it's his fault. but the perception that he would not be able to work with republican members of congress to avert the fiscal cliff has caused investors to run for the hills. take a look. at the s&p 500 over the past two weeks, s&p 500 probably resembles some of your investments. we don't know what might be included in a deal to raise revenue instead of raising tax rates. you're probably going to see taxes on the rich going up. it's giving investors the heebie jeebies. their instinct is to sell stocks. what are they worried about? concerns have a lot to do with the expiration of the bush tax cuts which could be painful for investors. capital gains taxes rise from 15% to 20% for most people who file taxes. taxes on dividends rise from 15% to your top income tax rate which could be depending how much you earn, as much as 39.6%. given that a lot of people rely on those dividends for their income, it's no surprise to see some of the highest dividend-yielding stocks get slammed in the past few weeks. take a look at some of those. but as i've been say
election coming up in january. the palestinian, both factions hamas and fata are talking about some sort of coalition. so i think you're going to see some movement obviously at any point the extremists particularly those that are actually to the -- more radical than hamas could seek to destabilize the situation. >> you brought up fata. they've been called powerless, impotent a lot during the conflict over the last ten days or so and criticized by members of hamas and some islamists in the region. on cnn yesterday there was a member of hamas talking about the palestinian authority. let's listen. >> i think people feel now that the only way which can push to give concessions is the resistance. because spent 20 years in negotiation but get nothing from this. >> does the palestinian authority have any power anymore to negotiate? or are they just an empty suit? >> no. they do have -- they do have power, but again, they don't have the popular support in gaza that's necessary to enforce or bring any large scale deal along. so it's really a bifurcated government. you can bet that hamas is going
.s. presidential election. the cftc is saying entrade has illegally facilitated bets on future economic data, gold prices and even acts of war. the agency says they're option and can only be traded on regulated exchanges. lehman brothers has striked a deal to sell arch stone to equity residential for just over $6 billion. arch stone owns 45,000 apartment units and the sale closes a rocky five year chapter for lehman which took the company private in 2007 only to see its value plumb met when the u.s. housing market collapsed. auditors now say arch stone was a major contributor to lehman's dehe miz. >>> moodys is sticking with a stable outlook for india. the agency mentioned a list of positives including india's high savings and investment rates, large diverse economy, but moody's did warn of credit challenges posed by india's weak infrastructure, high government debt and inflation. also under pressure partly due you to the country's strong reliance on imported crude. india is the world's fourthimpo may be some relief in sight. cnbc has more on the story live from new delhi. >> so this is a really b
says he is stepping down from the ranks. just weeks ahead of the general election. the former general and one-time prime minister said he will stay at his post until a new government is formed. those are your headlines. back to dagen and connell. dagen: online black friday sales topping a record. $1 billion. connell: we want to know about today. supposed to be this big day online. we have sent adam shapiro out there. >> 1.2 million square feet. they have 40 of these centers throughout the united states. this is the largest. we are on a 15 minute rate. they will come back at 11:30 a.m. they have been going 247. anybody who is selling online. at amazon.com, they will sell more than 200 items per second. last year it was 204 items per second. they expect revenue in the fourth quarter to be 16 to possibly 30% higher. i want to give you a quick shot of that area i am in. they take them out and put them in the yellow fins. they are said further down the line to the pickers. then they package it. then it is sent to your house. we will talk to an exeeutive about the numbers and billion dollar
obama was elected was a call to not only in the war in iraq, which he did, but also as he put it, he claims he would and the mindset that leads to war. unfortunately quite the opposite has happened. we have had an expansion of wars particularly through the drawn wars and one of the things that is so ironic about that is that along with all of the deaths of civilians and frankly people who are on those lists for reasons that we don't always know when we don't know who put them on the list, where it is that intelligence come from and how reliable is that? it's usually problematic on a host of levels but particularly the level of civilians who are killed for no reason these drone strikes and how that antagonizes people across these countries. that is exactly the opposite of the idea of looking for new ways to solve the conflict, ways of looking at ways to avoid the mindset. this is exactly reflecting the mindset of war. so this in my view is the biggest violation if you will of the promises that president obama made from the time he was elected four years ago. >> host: let's go to marcy
is if romney is elected. [laughter] they might actually do what they say they will. [laughter] >> your best hope it is one of the candidates is lying through his teeth about his plans. [laughter] we sit now what you'll slide prolonged stagnation. you wrote a book on inequality. this could not be a positive development to have the reserve army of the unemployed to weaken the bargaining power. >> inequality has become a serious problem in the united states. we have been arguing and long time. even the economists realizes it is a serious problem. when they say at you have to believe that. [laughter] the magazine's not our colleague. [laughter] >> host: you take them on. the problem now is lack of demand and that means people of not buying as many goods that leads to unemployment. the people at the top save 15% of their income the people at the bottom spend everything they need to to get by. it lowers total aggregate demand. there is now a vicious cycle with the high and employment this year wages is brought down that in turn before the crisis the median income was not doing well is lower today
up to the election -- let's shovel out more unemployment. i'm excited. woo! >> if the potential growth rate is 2.5 -- >> is this what we're looking at next month? have you already had the secret meeting? >> i wasn't on the call for that one. my point is that there was enough growth in the third quarter to bring down the unemployment rate. >> if that's the growth that makes you and the world happy, you'll be happy for ten years. >> when you have growth above potential it's sufficient to bring down the unemployment rate. maybe the decline of the unemployment rate was actually for real. >> i'm one of those people -- >> you're not going to convince me. >> i was one of those people skeptical about the last unemployment number that we saw. that makes this unemployment number so much more important as you say. if all those things line up and we're talking about some pretty big ifs, i'll be ready to buy the stock market if we get good gdp number and solid unemployment number, that hasn't happened yet. >> there's another way to quickly look at it. if you get that seven basis point jump o
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